by James F. Roberts | Jul 7, 2017 | Changes to Trusts, Update a Trust
If your trust is in fact still an ABC trust, this is probably not the current best strategy for you because it was set up before the exemption amount has stabilized at $5,250,000. Your estate plan (if modified) will be cheaper and easier to implement at the death of one of you if you don’t have the ABC trust. I recommend that you and your wife have your trust reviewed for free to give you the peace of mind that your trust is current.
by James F. Roberts | Jul 7, 2017 | Changes to Trusts, Update a Trust
Recognizing the need for an Anaheim estate plan update to accommodate your digital assets is an important first step. Once you have realized that your substantial digital assets need to be accounted for in your estate plan, it is important to create a list of your entire digital estate. This is a broad term that may appear overwhelming at first glance. Fortunately, an experienced Anaheim estate planning lawyer can help you to identify your digital assets and draft provisions into your estate planning documents to ensure those assets are handled according to your wishes.
What assets should be listed when documenting your digital estate? These assets may include:
Hardware that contains your digital information. This may include computers, hard drives, zip drives, DVDs, or CDs.
Software, such as Microsoft Word and Excel documents and financial data contained in Quicken or Quickbooks.
Email accounts, including personal accounts, business accounts, and social media accounts.
Social media pages, such as Facebook, Twitter, Instagram, or Google+.
Online digital storage accounts, such as mozy, carbonite, flickr, picasa, or dropbox.
Online accounts, such as eBay, Amazon, GoDaddy, or bank or other financial accounts.
For more information about modifying an estate plan in California, view our free guide, The Ten Things You Must Know Before Creating or Amending Your Will or Trust. Our office of experienced Anaheim estate planning attorneys is well versed in the unique issues that surround digital assets and information. Call our office today at (714) 282-7488 for a consultation.
by James F. Roberts | Jul 7, 2017 | Marriage, Update a Trust
For same-sex couples throughout the state, the answer to this question is a resounding “YES!” The recent rulings are so new that some of the implications are not yet fully understood. Regardless, what we do know is that there are countless estate planning opportunities that are newly available to same-sex couples. If you and your spouse previously executed estate planning documents, now is a great time to discuss an update. Consider taking the following actions:
Contact an experienced Anaheim trust attorney right away for a review of your existing plan and recommendations for updates that may benefit you.
Gather your old estate documents, including ancillary documents such as durable powers of attorney and health care directives.
Obtain copies of bank statements.
Assemble copies of beneficiary designation forms.
Gather deeds for real estate.
Obtain a copy of your marriage license.
Gather copies of life insurance policies, tax returns, business documents, and any other financial information that may apply to your estate plan.
It may seem like a hassle to have to update your estate plan; however, the tax savings and other benefits that are suddenly newly available to you are well worth the investment.
To learn more about the process of conducting an estate plan modification, view our free guide, The Ten Things You Must Know Before Creating or Amending Your Will or Trust. Our office of knowledgeable Anaheim estate planning attorneys are experienced with working with same-sex couples and understand how to use provisions within your plan that will maximize the benefits available to you. Call our office today at (714) 282-7488 for a consultation.
by James F. Roberts | Jul 7, 2017 | Changes to Trusts, Update a Trust
Can you help send your grandchild to college or graduate school without significant tax implications? It’s possible. Find out how to do it, here.
by James F. Roberts | Jul 7, 2017 | Changes to Trusts, Update a Trust
After an international adoption, it is time to update your estate plan. Consider modifying your plan to direct your guardian to keep your child’s cultural ties.
by James F. Roberts | Jul 7, 2017 | Changes to Trusts, Update a Trust
Should you make changes to your will or revoke the whole thing and start again? Read this blog post before you make any decisions.
